What’s new

Sanderson Farms Inc. said Tuesday it had net income of $50.9 million, or $2.27 a share, in its fiscal third quarter, down from $76.1 million, or $3.30 a share, in the year-earlier period. Sales fell to $739.9 million from $768.4 million a year ago. The FactSet consensus was for EPS of $2.81 and sales of $759 million. “Market prices for most products produced at our big bird deboning plants were significantly lower during the quarter when compared to last year’s third fiscal quarter,” Chief Executive Joe Sanderson said in a statement. “Bulk leg quarter prices remain under pressure as a result of weak export demand affected by export bans related to the discovery of avian influenza in the United States, a relatively strong United States dollar and lower oil revenue in countries with oil- based economies.” Boneless breast meat prices fell 25.4% in the quarter, while the average market price of bulk leg quarters was down 47.8% and jumbo wing prices were higher by 29.5%, he said. Shares were not yet active in premarket trade, but are down 20% in the year to date, while the S&P 500 has lost 8%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

The People’s Bank of China on Tuesday announced cuts to benchmark interest rates, lowering its benchmark lending and deposit rates by 0.25 percentage point. The rate cuts are effective on Wednesday and aimed a reducing corporate borrowing costs, the bank said. China’s central bank also reduced its reserve requirement ratio by 0.5 percentage point, with that requirement effective on Sept. 6. The reserve cuts are meant to ensure enough liquidity and stable credit growth, the bank said.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Toll Brothers Inc. on Tuesday reported quarterly earnings and sales results that came in below Wall Street’s estimates. The luxury homes builder said fiscal third-quarter earnings were $66.7 million, or 36 cents a share, down from $97.7 million, or 53 cents a share, a year ago. Revenue came in at $1.03 billion compared with $1.06 billion in the year-earlier period. Analysts polled by FactSet had expected per-share earnings of 49 cents a share on revenue of $1.04 billion. Net orders for the third quarter rose 12% to 1,479 units.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

7 versatile drop-spots for coats, bags, and shoes, each packed with space-saving and clutter-busting ideas to help tidy up your entry …read more

From:: DIY this old house

In this how-to video, This Old House landscape contractor Roger Cook rids a lawn of stubborn crabgrass …read more

From:: DIY this old house

Leave colorful containers of hardy plants outside for a fun focal point …read more

From:: DIY this old house

Stock futures rose on Tuesday, which was mirror opposite of action seen in futures market early Monday. Gains were gradually paring down though, with futures for the S&P 500 index rose 19.30 points, or 1%, to 1,889.50, while those for the Dow Jones Industrial Average jumped 161 points, or 1%, to 15,873. Futures for the Nasdaq 100 index gained 24 points, or 0.6%, to 4,027.25. Those gains came on the heels of one of the most volatile sessions in years for Wall Street on Monday, which finished with the S&P 500 and Nasdaq Composite in correction territory. Futures brushed aside a 4% drop for the China’s Shanghai Composite , though Asia trade remained volatile. Oil prices rebounded as well, with October crude up 78 cents, or 2%, to $39.02 a barrel. Other markets also defied losses for China, such as Australia’s ASX 200 index rose 2.3%, and the Hong Kong Hang Seng index gained 1.6%. The Nikkei 225 index dropped just over 4.3% at the open, rebounded 1.6% and was back off another 1% recently.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Stock futures rallied on Tuesday, which was mirror opposite of action seen in futures market early Monday. Futures for the S&P 500 index jumped 48.05 points, or 2.6%, to 1,19.25, while those for the Dow Jones Industrial Average jumped 361 points, or 2.3%, to 16,070. Futures for the Nasdaq 100 index gained 80.25 points, or 2.3%, to 4,082.25. Those gains came on the heels of one of the most volatile sessions in years for Wall Street on Monday, which finished with the S&P 500 and Nasdaq Composite in correction territory. Futures brushed aside a 4% drop for the China’s Shanghai Composite , though Asia trade remained volatile. Oil prices rebounded as well, with October crude up 78 cents, or 2%, to $39.02 a barrel. Other markets also defied losses for China, such as Australia’s ASX 200 index rose 2.3%, and the Hong Kong Hang Seng index gained 1.6%. The Nikkei 225 index dropped just over 4.3% at the open, rebounded 1.6% and was back off another 1% recently.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Acorda Therapeutics Inc. shares rallied in the extended session Monday after the U.S. Patent and Trademark Office denied a patent challenge against the company. Acorda shares jumped 24% to $36. The patent office on Monday denied a petition from the Coalition For Affordable Drugs challenging the patentability of Acorda’s multiple sclerosis drug Ampyra.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

U.S. stocks saw their highest trading volume in about four years Monday as stocks posted their worst declines of the year in a fifth straight day of brutal declines for the market sparked by China growth fears. More than 13.9 billion shares changed hands on exchanges linked to the Nasdaq and the New York Stock Exchange , marking the highest level of activity since Aug. 10, 2011, according to Dow Jones data. Back in 2011, fears of European contagion rattled stock investors, and around that time the Standard & Poor’s stripped the United State’s of its AAA rating. Now, investors are fretting that China’s stock woes underscore weakness in the world’s second largest economy. The Dow Jones Industrial Average ended down 588 points, or 3.6%, at 15,871.28, after staging a stunning 1,000-point drop at the open of Monday’s trading session. The Nasdaq Composite Index tumbled 179.79 points, or 3.8%, to 4,526.25 and the S&P 500 fell 77.68 points, or 3.94%, to 1,893.21.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News